₹408 crore, due and payable on 14 December to lenders, including JPMorgan Chase, Bank of America A) and BNP Paribas.“SsangYong has also applied for an Autonomous Restructuring Support (ARS) program, which is a court-designed process.
If the court approves the ARS, SsangYong will continue to function under the supervision of its Board and will negotiate with stakeholders to reach an understanding about a revival package, which may include equity and debt financing and other related actions," parent company M&M said in a filing to BSE.While some of SYMC’s board decisions will be subject to court approval, the Seoul Bankruptcy Court will deliberate and review the application and relevant documents submitted by SYMC to determine whether or not.